ARTICLE | Deals
Plus: Rampart raises $85M series A for DNA-based therapies and updates from Servier, Novartis, Cargo and more
By BioCentury Staff
October 25, 2023 1:15 AM UTC
Cross-border company LianBio (NASDAQ:LIAN) is returning to Bristol Myers Squibb Co. (NYSE:BMY) local rights to cardiomyopathy drug Camzyos mavacamten in exchange for $350 million up front. The Shanghai and New Jersey-based biotech had obtained rights in mainland China, Hong Kong, Macau, Taiwan, Singapore and Thailand under a deal with MyoKardia Inc., which BMS has since acquired, for $40 million up front; the product has since met the primary endpoint in a pivotal study in China to treat obstructive hypertrophic cardiomyopathy, and is under regulatory review in that country. Camzyos is also approved in Macau and Singapore.
Next up in LianBio’s pipeline is Xdemvy lotilaner ophthalmic solution, to which the biotech holds rights from Tarsus Pharmaceuticals Inc. (NASDAQ:TARS); LianBio is conducting a Phase III study of that product in China to treat eyelid disorder Demodex blepharitis. The company said it will conduct a strategic review. Shares of LianBio rose 117% to $3.02 on Tuesday…